GET TO KNOW: Christele Chokossa, Research Analyst for Euromonitor
Christele is an analyst at Euromonitor International covering Beverages and Tobacco. She holds a B. Com degree in Financial Management from UNISA. She is also currently enrolled for the CFA program, as well as a postgraduate diploma in Financial management at the university of Western Cape. Prior to joining Euromonitor International, she worked for four years as a senior research analyst at a capital market research company where she focused on European and French speaking countries. Christele has a passion for research and analysis, particularly in consumption patterns in sub-Saharan Africa.
Christele is a panelist at the Food Leadership Forum 2018, on Day 2 and will be part of the Panel discussion: Top food and drink trends changing the way you do business: An insight into the latest menus, the future of food and the changing expectations of consumers. How can restaurants, chefs and brands forecast changing appetites? Is the future healthy and sustainable? This session takes a look at food and drink trends right now – and looks to discover what’s next.
What do you believe has been the key change in the F&B sector over the past five years?
CC: Modernisation of retail outlets, through the expansion of international chained-retailers in the region improved the distribution of packaged foods and beverages, emergence of local players intensified competition, growing technology provided new ways of reaching consumers and accelerated the spread of global trends and a steady shift toward heathier F&B consumption, partly driven by change in regulations influenced markets.
Where do you see the three key challenges in the industry over the next five years?
CC: Socio-political instability in certain countries which increases investment risk and requires a long-term outlook, underdeveloped infrastructure and complex distribution channel; and markets’ complexity requires a flexible approach.
The F&B sector is undergoing huge change. What are the three tips you would give for success in the coming five years?
CC: Consumers are diverse and a “one size fits all” approach will not work. Hence, it is important to: Innovate by incorporating local ingredients, develop suitable distribution channels to reach targeted consumers and partner with established local manufacturer/distributors to facilitate integration.
Are there any specific areas in the (sub-Saharan) African F&B market that you believe are unique?
CC: South Africa is unique in the African story: a modern democracy, with a strong independent judiciary, sophisticated banking system and well-developed modern retailing and infrastructure, but still has a large population of low-income individuals. Although the country has a predominantly young population, the age group of 65+ concentrates a disproportionately large share of the country’s wealth, mostly due to the accumulation of assets during the “apartheid” period. In term of lifestyle, consumers are quite dynamic. You can find Inspired Adventurers who support green living and are more interested in new experiences, balanced Optimists who are more health conscious, as well as undaunted strivers who are aspirational and interested in branded and premium goods that showcase exclusivity and a certain status, appearance and lifestyle. On the other hand, you also find secure traditionalists who are the highest grossing consumers and are less brand and image conscious, as well as empowered activists who tend to be cautious in their spending patterns as they seek durable and high-quality product.
Which type of people do you believe would gain the most form attending your session this year?
CC: Key players across F&B, interested in either expanding their operations in sub-Saharan Africa, or gaining competitive advantage in the region. This includes, but not limited to manufacturers, distributors, importers or retailers.
The Food Leadership Forum runs from June 24-26 2018 at The Gallagher Convention Centre, Johannesburg.
11.00am DAY 2 Disruptive foodstuff trends: Top food and drink trends changing the way you do business.
The Food Leaders Forum is a series of spontaneous and forthright panel discussions on the key strategic opportunities and challenges shaping the F&B industry at this time of accelerated expansion and change. With such important topics to be discussed and high profile industry leaders taking part we recommend you to book your seat today.